A new force in specialty insurance has officially launched. Ignyte Insurance, backed by global investment firm Carlyle, is setting its sights on acquiring and scaling high-performing insurance brands across niche markets worldwide. This new venture comes from the executive team that built NSM Insurance Group into a $2 billion specialty insurance powerhouse.

Founded and led by Geof McKernan, Bill McKernan, and Marc Castellucci, the Ignyte team brings over 30 years of industry experience. The launch follows the recent sale of NSM Insurance Group’s U.S. commercial business to New Mountain Capital — marking a new chapter focused on global growth and innovation in specialty lines.

“Ignyte represents more than a name — it embodies the entrepreneurial spirit, innovation and grit that have fueled our growth for over three decades,” said Geof McKernan, CEO of Ignyte Insurance. “Others may turn away from complex niche industries — we run toward them.”

Scaling High-Performing Niche Brands

Ignyte is already home to a growing portfolio of specialty insurance brands, spanning:

• Collector car
• Travel medical
• International student health
• Leased equipment
• Other embedded insurance products

Together, these companies manage over $650 million in premium and serve millions of customers across the U.S., UK, Europe, and Australia. Backed by scalable capital, transformative technology, and robust operational support, Ignyte enables its portfolio brands to accelerate growth, enhance innovation, and deliver world-class service.

Proven Model, Bold Vision

Ignyte’s strategy is powered by a disciplined acquisition model, deep underwriting expertise, and a customer-first mindset. The goal: build a global platform that transforms how niche insurance is scaled and delivered.

“We’ve proven our ability to build and scale successful companies, and with Ignyte, we’re ready to take that to the next level,” said Bill McKernan, President of Ignyte Insurance. “The opportunity ahead is massive.”

And the “Y” in Ignyte? It symbolizes defying expectations. As McKernan puts it, “We don’t follow the crowd — we uncover untapped potential and build something truly different.”

Follow Ignyte Insurance on LinkedIn to learn more about its expanding portfolio and vision for the future of specialty insurance.

About Ignyte Insurance
Ignyte Insurance is a specialty insurance platform focused on building and scaling high-performing specialty insurance brands in unique, niche markets. The company's core strategy centers on acquiring and growing specialized insurance businesses that offer differentiated products and exceptional customer service. Backed by a strong track record of innovation and disciplined growth, Ignyte is committed to driving consistent underwriting performance, operational excellence and long-term value creation. With more than $4 billion in executed transactions, Ignyte is one of the fastest-growing specialty insurance platforms in the industry. Today, its diversified portfolio represents $650 million in premium and includes market-leading solutions for classic and collector cars, travel medical, international student health, leased equipment and specialist MGA platforms. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com. 

NSM Insurance Group, a global specialty insurance provider, announced today it has signed a definitive agreement to sell its U.S. commercial insurance division to New Mountain Capital, a leading growth-oriented investment firm with over $55 billion in assets under management. The transaction is expected to close in the next 45 days. The closing is subject to regulatory approvals and other customary closing conditions. NSM is a portfolio company of global investment firm Carlyle. The agreement encompasses NSM's diverse portfolio of 15 market-leading niche insurance programs across Property & Casualty, Accident & Health and Reinsurance — as well as its retail agency, NSM Insurance Brokers. These programs will form a new independent business entity, which will continue to be marketed as NSM until a new brand is established. "Today, we are excited for this milestone and for New Mountain to help lead the next stage of growth for these well-established specialty insurance brands. We are extremely proud of the unique portfolio of programs we have built over the last 35 years that provide a profitable and diversified position in today's competitive marketplace," said Geof McKernan, CEO of NSM Insurance Group. "New Mountain has an impressive track record and we have the utmost confidence in their expertise, integrity and commitment to drive NSM forward. We want to thank the entire NSM team for their hard work — this transaction is a win for our team members and all stakeholders involved." "The NSM team has done a tremendous job building an unparalleled specialty insurance distribution platform. The business has a 35-year track record of market-leading performance and we are delighted to partner to further build the business into the leading independent commercial insurance MGA business in the U.S.," said Robert Mulcare, Managing Director at New Mountain Capital. Sean Donovan, Director at New Mountain Capital added, "As a new independent business, we're excited by the potential to further accelerate growth through focused investment in the business, the team and technology, which will drive continued, long-term success." Since the company's founding in 1990, NSM has grown and evolved into a global specialty insurance provider with more than $2 billion in premium across 30+ niche insurance programs. NSM has developed a winning formula for building the industry's most successful and sustainable insurance brands, consistently outperforming competitors and driving industry-leading growth and profitability. More than 20,000 agents nationwide rely on NSM's specialized insurance programs to meet the unique needs of their clients. "Carlyle is proud to have supported NSM's significant growth over the last three years through operational improvement, accretive M&A opportunities and strategic investments in technology, data and analytics," said Jim Burr, Co-Head of Financial Services at Carlyle and Jitij Dwivedi, a Partner focused on private equity investments in financial services at Carlyle. "This is a positive outcome for everyone involved, and we believe these specialty insurance programs are well positioned for continued success. We look forward to continuing to work with Geof McKernan and the NSM team to grow the company's remaining direct-to-consumer insurance brands and pursue future strategic acquisitions." Geof McKernan and Bill McKernan will join the board of directors upon closing of the acquisition to ensure continuity and a smooth transition. Aaron Miller, Chief Commercial Lines Officer at NSM, will become the Chief Executive Officer of the new entity backed by New Mountain. Miller has over 20 years of experience in the P&C commercial lines industry and has held various management and leadership roles throughout his career. Since joining NSM in 2021, Miller has been instrumental in driving the continued growth and transformation of the B2B programs by enhancing the product offerings, improving operational efficiency and strengthening carrier relationships. "I look forward to partnering with the New Mountain team and working with my B2B colleagues to propel us toward unprecedented success," said Miller. "Today's announcement signals a new and exciting chapter not just for our team but for our carrier partners, agents and customers. Through this transaction, we are poised to become an even more formidable industry leader while creating greater value for our team members and key partners." Houlihan Lokey acted as exclusive financial advisor to Carlyle and NSM. Wachtell, Lipton, Rosen and Katz acted as legal counsel to Carlyle and NSM. Polsinelli acted as legal counsel to NSM. Ardea Partners acted as exclusive financial advisor, and Simpson Thacher & Bartlett LLP served as legal counsel to New Mountain. For more information about NSM's cutting-edge specialty insurance programs, visit nsminc.com. About NSM Insurance Group
NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and risk management expertise. The company has built more than $2 billion in premium across 30+ specialty insurance programs and brands around the world focused on collector cars; student health and travel; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for architects and engineers, lawyers, CPAs and doctors; habitational; community association management; commercial and residential contractors; staffing; workers' compensation; medical stop-loss and managed care; and facultative reinsurance. For more information on NSM, visit nsminc.com. About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit www.newmountaincapital.com. About Carlyle
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With US$441 billion of assets under management as of December 31, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 2,300 people in 29 offices across four continents. For more information, visit www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

NSM Insurance Group adds to its growing travel insurance portfolio with two leading U.K. brands. NSM Insurance Group, a global specialty insurance provider with more than $1.8B in premium across 25+ niche insurance programs, today announced it has completed the acquisition of InsurEVO, which includes AllClear Travel insurance and InsureandGo — two of the most trusted and dominant travel insurance brands in the U.K. NSM will bring the full power of its capacity, resources and technology to further grow these brands and position them as the world's most in-demand travel insurance platforms. "We are thrilled to officially welcome AllClear and InsureandGo to the NSM family," said Geof McKernan, CEO & Founder of NSM Insurance Group. "NSM is committed to the travel and student health insurance space and building out a robust portfolio of leading travel brands around the world. We are excited to partner with Chris Rolland to drive exceptional innovation and growth for AllClear and InsureandGo. We have tremendous confidence in his ability to lead these businesses and capitalize on competitive advantages." Since 2000, millions of customers have relied on AllClear and InsureandGo for their travel insurance needs. These leading travel brands are committed to providing a seamless and effortless insurance journey for customers while maintaining award-winning customer service. "Joining forces with NSM will bring significant value to our business and our customers," said Chris Rolland, Group CEO of AllClear and InsureandGo. "NSM will enable us to expand our offerings and leading-edge technology platforms to achieve our number one priority — delivering the best possible experience for our customers to meet their unique needs and to provide peace of mind." For more information about NSM or for investment opportunities, please visit nsminc.com. About NSM Insurance Group NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.8 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; student health and travel; social services and behavioral health; addiction treatment; coastal condominiums; community associations; towing and garage; trucking; sports and fitness; professional liability for architects, engineers and lawyers; habitational; commercial and residential contractors; medical stop loss and managed care; staffing; and workers' compensation. For more information on NSM, visit nsminc.com. About The InsurEvo Group InsurEvo comprises three key consumer brands, InsureandGo, AllClear and JustCover trading across U.K., Australia and Ireland. For more than 20 years, award-winning travel insurance specialist AllClear has helped cover more than three million policyholders — with customers across the U.K., Ireland and Australia. AllClear is passionate about enabling people to obtain specialist travel insurance whatever their medical condition or age. AllClear offers quality insurance with 5 Star Defaqto rated products and best-in-class service evidenced by 97% of 150,000+ Trustpilot reviews rating the team 'Great' or 'Excellent.' AllClear provides products, technology platforms and services for many national charities and household brands including Aviva, Direct Line, Diabetes U.K. and Motability. AllClear is the selected Travel Insurance Specialist scheme provider for the British Insurance Brokers Association (BIBA) since 2011.

Insurance underwriter Professional Underwriters Agency (PUA) a division of NSM Insurance Group is pleased to announce that Brian Neilson has joined the Miscellaneous Professional Liability program dept, a comprehensive insurance solution designed to protect a wide range of professionals from exposures that may arise during the course of their work. The program is available to over 4,000 classes of professionals, including insurance agencies, business and management consultants, notaries, medical billing services, and many others. Why Choose PUA's Miscellaneous Professional Liability Program? There are several reasons why professionals should consider PUA's Miscellaneous Professional Liability program for their insurance needs. First and foremost, PUA's carrier is A-Rated Lloyd's of London, one of the world's most trusted and respected insurance companies. This means that policyholders can rest assured that their coverage is backed by a financially stable and reliable carrier. In addition to the strong backing of Lloyd's of London, PUA's Miscellaneous Professional Liability program offers unparalleled underwriting expertise. The team at PUA has extensive knowledge of the various risks faced by professionals and is able to tailor coverage to meet the specific needs of each policyholder. Another advantage of PUA's program is its robust risk management resources. The company offers a range of tools and services to help policyholders identify and mitigate potential exposures, including risk assessments, training materials, and more. This can help professionals reduce the likelihood of a claim being made against them and save on insurance costs in the long run. Coverage: PUA's Miscellaneous Professional Liability program provides broad coverage for a range of exposures, including errors and omissions, professional negligence, and more. This means that policyholders can be confident that they are protected against a wide range of potential liabilities. The program offers limits of up to $2m/$4m, with a minimum premium of $2,000 and a deductible of $2,000. This allows policyholders to customize their coverage to meet their specific needs and budget. Claims: In the event of a claim, policyholders can take advantage of PUA's in-house claims team, which is dedicated to providing fast and efficient service. The team is highly experienced in handling professional liability claims and is committed to helping policyholders resolve any issues as quickly and fairly as possible. Conclusion: PUA's Miscellaneous Professional Liability program is an excellent choice for professionals in a wide range of industries who are looking for comprehensive and reliable insurance coverage. With its A-Rated carrier, unparalleled underwriting expertise, and robust risk management resources, the program offers unparalleled protection for policyholders. Its broad coverage, customizable limits, and in-house claims team make it an attractive option for professionals seeking peace of mind. So, if you are a professional looking for insurance coverage, be sure to consider PUA's Miscellaneous Professional Liability program. For more information contact 630-572-0600  Brian Neilson BNeilson@puainc.com Patrick Evans pevans@puainc.com Sandip R. Chandara J.D., CPCU, RPLU  sandip@puainc.com